EIDL Hardship Accommodation Plan


We have some more big news on the EIDL, and what happens if you can’t pay. If your business just hasn’t recovered yet, or you don’t have the money to pay your total EIDL loan payments, there’s a new option available. It’s called the Hardship Accommodation Plan.

When you log into your portal through the SBA, you’ll be able to see an option to take advantage of this. This new plan will allow you to make 10% of your payment on your EIDL loan for the next six months. It will reduce your payment. So if your payment was going to be $2,000, you could make a $200 payment. As long as your loan is under $200,000, you should automatically qualify for this option, which is the majority of EIDL loans.

You’ll need to log in to your portal where you would make the payment, and instead of selecting to make the payment, click on the loan number to get information about your loan. You will see a red button on the right-hand side that says Hardship Accommodation Plan. You can click that button to set this up successfully.

The SBA has gone to great lengths to put on its website that the 30-month EIDL deferment period will not be extended and that the loan is not forgivable, so they’re sticking to it. But this hardship accommodation program will last for six months. It says you’re going to be able to reapply or renew that if necessary after that six months ends.

The remaining amount due is going to add to a balloon at the end of your loan. So your date when the loan must be paid in full is not going to change. You will just have a balloon payment at the end of the loan for any additional interest that accrues during that deferment time.

The regular payment would resume after six months unless you are able to renew it.

If your loan is over $200,000, you must contact the service center for the SBA to ask about specialized requirements. To get a Hardship Accommodation Plan, you must call them at (833) 853-5638 or you can email disastercustomerservice@SBA.gov and include “hardship accommodation plan” in the subject line.

For the first time, I see a link on this page for contacting them if you have other needs like:

  • a request for subordination of a lien to facilitate third-party financing
  • a proposed change in ownership
  • a proposed assumption
  • a request for specific collateral release

Check out this link for the details. It gives you a phone number to contact or emails for each service center. To stay informed on EIDL, keep watching and subscribe to our channel for the latest and greatest updates as they come.

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Donna Bordeaux, CPA with Campground Accounting

What happens when you send two CPA’s out into the relaxing outdoors to camp? You get CampgroundAccounting.com. Donna and Chad have over 50 years of combined experience as entrepreneurial CPA’s. They’ve owned businesses and helped business owners exceed their wildest dreams. They camp and travel across the country every chance they get, so it’s just a natural fit that they focus their CPA skills on helping campground owners throughout the USA grow their businesses and minimize the impact of taxes. They understand the key performance indicators and specialized issues that face RV park owners every day.

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